Harbor Capital Advisors Inc. Raises Stake in Credit Acceptance Co. (NASDAQ:CACC)

Harbor Capital Advisors Inc. grew its position in Credit Acceptance Co. (NASDAQ:CACCFree Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 338 shares of the credit services provider’s stock after purchasing an additional 46 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Credit Acceptance were worth $180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in Credit Acceptance by 22.6% during the first quarter. American Century Companies Inc. now owns 2,210 shares of the credit services provider’s stock worth $1,216,000 after purchasing an additional 408 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Credit Acceptance by 3.1% during the 1st quarter. Bank of Montreal Can now owns 2,203 shares of the credit services provider’s stock worth $1,227,000 after buying an additional 67 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Credit Acceptance in the 1st quarter valued at $101,000. Dimensional Fund Advisors LP grew its position in shares of Credit Acceptance by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 173,421 shares of the credit services provider’s stock valued at $95,443,000 after buying an additional 3,402 shares during the last quarter. Finally, Covestor Ltd raised its stake in Credit Acceptance by 57.6% during the 1st quarter. Covestor Ltd now owns 227 shares of the credit services provider’s stock worth $125,000 after acquiring an additional 83 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded Credit Acceptance from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. TheStreet upgraded shares of Credit Acceptance from a “c+” rating to a “b-” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $381.75.

View Our Latest Stock Analysis on Credit Acceptance

Insider Buying and Selling at Credit Acceptance

In related news, insider Douglas W. Busk sold 500 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the sale, the insider now owns 3,112 shares of the company’s stock, valued at $1,804,897.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

Credit Acceptance Price Performance

Shares of NASDAQ:CACC opened at $548.99 on Friday. Credit Acceptance Co. has a 52 week low of $379.77 and a 52 week high of $616.66. The company has a 50-day moving average price of $548.87 and a 200 day moving average price of $493.76. The company has a market cap of $6.75 billion, a P/E ratio of 24.93 and a beta of 1.46. The company has a quick ratio of 15.71, a current ratio of 15.71 and a debt-to-equity ratio of 2.84.

Credit Acceptance (NASDAQ:CACCGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $10.06 EPS for the quarter, beating the consensus estimate of $9.17 by $0.89. Credit Acceptance had a return on equity of 30.94% and a net margin of 15.04%. The business had revenue of $491.60 million during the quarter, compared to analysts’ expectations of $478.80 million. Research analysts predict that Credit Acceptance Co. will post 41.06 earnings per share for the current year.

Credit Acceptance Company Profile

(Free Report)

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.

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Institutional Ownership by Quarter for Credit Acceptance (NASDAQ:CACC)

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